17:28 - 1.07.2024

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July 1, Fineko/abc.az. Japanese diversified conglomerate Sony is preparing to launch a subsidiary cryptocurrency exchange, updating the local trading platform WhaleFin, which it acquired last year.

ABC.AZ reports that WhaleFin has been renamed S.BLOX Co., which plans to collaborate with other Sony Group businesses to create additional value for its cryptocurrency trading services.

Initially, this cryptocurrency trading structure was Japanese exchange DeCurret, which was acquired by the Japanese subsidiary of the Singapore Amber Group in 2022. In August 2023, the platform was acquired by Sony's wholly owned subsidiary, Quetta Web Co., according to a press release dated 2022.

Sony is making efforts to expand its presence in Web3. The conglomerate's business unit, Sony Network Communications, partnered with Japanese blockchain company Startale Labs last year to create Sony's own public blockchain network.